Lal Chand specified that money laundering has been around for a long time and curbing it is vital to make this world a better place for economies around the globe, especially for the deprived countries. He added that eliminating this evil is key for us to the success.
It arises with no surprise that people use unlawful habits to make money all across globe. Ever doubted where does that all illegitimate money go? Bigger portion of it remains in the financial system legitimately or unlawfully. Though money laundering efforts try to legalize illegal money, anti-money laundering methods can stop it.
Methods to hide and legalize illegal money have been around for a long time and curbing it is important due to various reasons. Here is why removing it is essential for the world economies. Lal Chand clarifies the money laundering and why it should be stopped altogether.
If you are interested to contribute in this Noble cause then it’s worth reading the below important part where Lal Chand highlighted the importance of AML (Anti-Money Laundering) and how can you contribute.
Lal Chand defines money laundering in different and simplest way so anybody can understand it. People almost in every country do generate a huge amount of money illegally. Money laundering refers to bringing this illegally generated money into the banking (financial) system in such a way that no one can judge the actual source of this wealth.
To encounter money laundering Lal Chand described it in his own words as, to evade troubles caused by unlawful activities and money laundering, authorities are working hard to identify all those people who are involved in money laundering. The processes made to minimize it known as anti-money laundering efforts. making an Offshore Company in Dubai is legal and you can avoid your taxes by Incorporation Offshore Company in Dubai. It require you to high a legal consultant, who has in-depth knowledge of registration of offshore company in dubai with proper structure and documentation.
Lal Chand Money Laundering expert suggested different methods to end money laundering. Needs to place some strict regulations to trace the people which are using banking channels for the regularly transaction of large amount of money. FATF (Financial Action Task Force), a global organization is playing its part to make to make the world money laundering free.
Furthermore, financial inclusion is another important concept that can play a pivotal role in this fright against terrorist financing. Other than this, you can visit FATF websites for the other strategies which are playing an important role for the stoppage of money laundering and terror financing. The one of the finest and more organized force available in the world with the aim of stopping money laundering and terror financing.
At the end, Lal Chand emphasize that anti-money laundering efforts must be made stricter to avoid illegal activities and scams. Terrorism, smuggling, human trafficking, gambling, and other illegal acts can be stopped by enacting anti-money laundering regulations across the globe. Last and most important, it is the responsibility of every single person in this beautiful world to join hands against the money laundering and terror financing and report to the concern authorities if you found someone is involved in such criminal activities on any level.
